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Mothercare is likely to close up to 70 of its UK stores despite the boss of babycare retailer saying a plan to turn the business around after a number of loss-making years is taking effect.

Chief executive Mark Newton-Jones said the firm would reduce its number of stores in order to make its portfolio more efficient, with an aim to cut the total number from around 150 at present to between 80 and 100.

He said a greater focus on digital sales - via mobile phones or computers - would offset lower sales in physical stores. Mothercare currently generates around 41pc of its turnover online, compared to just 13pc three years ago.

“We expect this to reach more than 50pc over the next four to five years,”...